SEATTLE (AP) — Avalara Inc. (AVLR) on Wednesday reported a loss of $12.3 million in its fourth quarter.
On a per-share basis, the Seattle-based company said it had a loss of 16 cents. Losses, adjusted for stock option expense and amortization costs, were 3 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.
The provider of cloud-based software services posted revenue of $107.6 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $100.2 million.
For the year, the company reported that its loss narrowed to $50.2 million, or 68 cents per share. Revenue was reported as $382.4 million.
For the current quarter ending in April, Avalara said it expects revenue in the range of $107.5 million to $108.5 million.
The company expects full-year revenue in the range of $470 million to $474 million.
Avalara shares have increased 27% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $92.81, more than doubling in the last 12 months.